The Dallas/Fort Worth area continues to see a hot market, with the average median sales price rising 9.4% in January. North Texas Real Estate Information Systems released their latest housing market statistics showing 4,686 closed sales in January. This is 8.5% less than January 2013. The number of new listings on the market for January decreased 2.5% from January 2013 to 9,513 new listings.
In January 2014, the DFW market featured three months of inventory, compared to 4.2 months of inventory in January 2013. In contrast, the Real Estate Center at Texas A&M University cites 6.5 months of inventory as a balanced market. Demand for Dallas/Fort Worth homes continues to outpace the supply of homes, causing DFW to be a strong seller’s market. Homes continue to sell very quickly, spending an average of 66 days on the market this January. This is a decrease of 13.4% days from last year.
Great things are happening in the Dallas/Fort Worth real estate market, as all indications are that the DFW will remain hot for a while. If you’ve been on the fence about selling, it’s time to leap off that fence and get your house sold! Don’t forget to enlist the help of a knowledgable Realtor to make sure you don’t miss out on that perfect house. Click here to search for homes in Dallas and the surrounding areas, or find a realtor here!